Darrell Cronk, president of Wells Fargo Investment Institute, has a 2017 S&P 500 target of 2,230-2,330, compared to its current level of just over 2,200. "We think the market moves up marginally next year," Cronk said, adding that he expects earnings to grow 6-7% in 2017. TheStreet's Scott Gamm reports from Wall Street.
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Experiential spending is the big winner this holiday season, according to Sarah Quinlan, senior vice president of market insights at MasterCard . The experiences category, which includes travel and airlines, saw increases in year-over-year spending, according to Quinlan.
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Under Armour is getting into the business of outfitting the finest baseball players in the world. The sports apparel maker confirms it has inked a 10-year deal to be the exclusive provider of all on-field uniform components, including jerseys featuring Under Armour branding, for all 30 Major League Baseball teams. For more on the deal, check out Brian Sozzi's article on TheStreet.com.
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It's go time for one of Nike's most innovative sneakers ever and time to say goodbye to tripping over your shoelaces. Nike first showed off its Hyperadapt sneakers in March. The sneakers feature what Nike calls "adaptive lacing" technology, which can automatically tweak the snugness of the shoe. There are two buttons on the side to tighten and loosen the laces. They obviously have to be charged, which is done via a wireless charging puck. A blue light on the sole of the shoe indicates a full charge, a yellow light warns a user the battery is dying and red is basically panic mode for sneakerheads. Slowing sales growth for Nike has been fueled by sluggish demand for its basketball sneakers in the face of greater competition from the Under Armour Stephen Curry basketball brand and new fashion offerings from Adidas
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A study sponsored by The U.S. Highbush Blueberry Council found American millennials spend nearly $50,000 in their lifetime just socializing during the holidays. Jordyn Rolling (@jordynrolling) has the details!
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